Toward a Monetary Union in the East African Community : Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms

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Series:: Departmental Papers / Policy Papers
Author(s):: Paulo Drummond, Ari Aisen, Emre Alper, Ejona Fuli, and Sébastien Walker
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: July 2015
DOI:: http://dx.doi.org/10.5089/9781513562179.087
ISBN:: 9781513562179
Page:: 58

This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.

Toward a Monetary Union in the East African Community

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2. Does the Exchange Rate Cause or Absorb Shocks in the EAC Countries?

Author(s):: Paulo Drummond, Ari Aisen, Emre Alper, Ejona Fuli, and Sébastien Walker
Published Date:: July 2015

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Toward a Monetary Union in the East African Community : Asymmetric Shocks, Exchange Rates, and Risk-Sharing Mechanisms

2. Does the Exchange Rate Cause or Absorb Shocks in the EAC Countries?

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